Buy Bajaj Finance on declines: P Phani Sekhar

P Phani Sekhar of Karvy Stock Broking told CNBC-TV18, "The disclaimer is that we hold Bajaj Finance in our portfolios. I think one should be cautious. It is a good stock, a marquee name with excellent track record of profitability and growth, something that we have found it difficult to see over the last three years. Consistency has been its hallmark but at Rs 60,000 crore market capitalisation, one indeed has to be extremely careful and I would not advice anyone to put money in this stock at this point in time. For those who are holding, they can enjoy the ride but again this is a good stock that one can think of buying on declines."Bajaj Finance closed at Rs 11,226.80, up Rs 869.55, or 8.40 percent. It has touched a 52-week high of Rs 11,410.15.